Evening Star Newspaper, April 23, 1924, Page 27

FIN WHOLESALE PRICES TODAY UNCHANGED Drop in Quotations for Calves Only Decrease Noted in Local Market. FRESH MEATS 'HOLDING OWN' Vegetable Supplies Reported by Department of Agriculture. the only outstanding change livestock and dairy irket today was in calves, ported by commission and around 10 and nd poultry ranged | and no were ¥ light,” their price th these dealers, were figure, they de: a quarter or more some declared the ind butter was id that th should arket, but prices still brought 17 and pork to 18 in held its own at meats like- fancy. £.00 th Care xpress, broken fruit, Torida hroken fons. 1 Michi- | 2 broken South_ Carolina. 5 hipped New Y. broken car on_ tr 22 crates N saltimore, broken and 5 un- A Fool and Hix Soney. The fact that a stock certificate 13 printed in fan een scroll work is no proof that it is worth any mors than ording ralipaper. Thousands nington would have gaved their money if they simply had ANCIAL. NEW YORK C Received by Private Wire BY WILLIAM F, HEFFERNAN. NEW YORK, April 23.—After at- tempting to force further liquidation in the curb market dealings today | professional operators’ abandoned their efforts on the short side when they found they were unable to bring out real stocks. The motors, public utilities and mining es of the better grade showed more resistance to the selling, while the oils rallied substantially when the element which had been working on the side of lower prices tried to cover in out- standing contructs. | " Oil shares, which had been spec objects of attack, responded readily the active Standard Oils getting up a point to 3 points. Among the high-priced members Standard ot | Ohio recovered % points . overnight | Prairie Oil and Gas, South Penn and W _YORK, April 23.—Following is traded in on Market today: the New | sates in | thousands. BONDS. High. o0 2 Hawe 855 Tleaverboard Ns Copp Lehigh Power Gs Libby, MeN & L arket St Ry O rris & Co 7 nited 01 “uit Ry of ¥ acuum Oil S of Mex s of dp Bty STANDARD OIL ISSUES Anglo Am O e ' L ot Ol ney.. 20 Cumberland P 1, WS 0 Nebraska 1008 O N Y pew 108 0 Ohio & Fineh 5 g INDEPENDENT O1L STOCKS 10 Allen_ 00 | &1.000 cit $1.000 | i | Washington Stock Exchange. SALS Bid and Asked Prices, PUBLIC UTILITY. Amer. Tel._and Telga. 4s... American Tel. & Telgs. Am. Tel. & Tel ctl. tr. Am. Tel. & Tel. couv. {s. Anscostia ‘& Potomac ‘Anacosti ©. anad F C. & P. Telepl Capital Traction R. City and Suburban drgetown Gas 18t 5s. Metropolitan R. F Elec. 1st 530 | Potos asked their banker to tell them what |} X S o % he knew of ful investment. BUILDING PERMITS DROP. St. Paul, However, Reports Labor Is Well Employed. ST, PAUL, April 23 (Spacial.) Sding i sed in the —The Twin s 5o 1 of last year at this t e in progress with labor well emploved. Mate prices are not supected to decrease i Wholesales in this distributing cen- ‘ar are increasing, special improve- ient being shown in summer mil- ion as a whole, how- ing the influence of a Vear and slackness of Temer buying power. which will not Wprove until the 1924 crops are mar- eted at a profit. i Reped A L n expansion of business ¢ paul and Minneapolis. how- . {5 indicated by the increase Wumber of motor trucks in serv- '~ 'here, which now total 26,300, or 500 more than last year. CRITICIZES LABEL BILL. A L. Gifford Sees No Check on De- ception in Measure. Deception in the sale of woolen merenandise would not be eliminated by passage of the French bill, which would provide for the labeling of woolen fabrics to show the contents of virgin fiber, Albert Lu Gifford, rep- resenting the Worumbo Manufaotur- ing Company of Lisbon Falls, Me., today told the House commerce com- mittee. . “T can think of no interest,” Gif- tord said, “which would be bepefitted by the bill, except woolen manufac- turers who would take advantage to nake fabrics from the cheapest srades of new wool and sell them at « greater price than could be obtain- “d for fabrics containing reworked wool.” . E. Cleveland, representing the Manufacturers” Textile Assoclation of Webster, Mass, also opposed the re. e, but than | state an equal volume of | yme supposedly wonder- | % | MISCELLANEO orag: tel ... STOCKS. PUBLIC UTILITY. Amer. Tel. and Tel | Capital_Traction. | Washingtor_Gas Ptolke® Tt rer: com Wash, iy, and Elec. pfd.. Terminal Taxi com - NATIONAL BANK. | Wasn. MRt lWlh.Im n Park Capital Columbia Commerc: Distriet Farmers & Mechaic: Federal-American Liberty Lincoin National Second Nations! TRUST COMPANY, erican Security and Trust.. Amesican Securit American Corcoran NSURANCE. ia Title.. L4 fi:‘l‘llmg;llh Title los. . 137 MISCELLANEOUS. aper_pfd. SR Bierchante: Thnsfer & Htorage. 110 Mergenthaler Linotpe. . * 150 National Mort. & Inv. pfd. ©0ld Duteh Market com. 0Old Dutch Market pfd. Lanston Monotype. THE _EVENING URB MARKET Direct fo The Star Office Standard of Nebraska were points or more. Salt Creek Producers and Moun- tain Producers were features in the independent group, the latter advanc- ing a point to across 19. Creole Syndicate, which had broken below 5 under realizing sales, got well above this figure today. The action of the motor stocks ap- peared to indicate an oversold condi- tion and sentiment toward this group was somewhat improved. Durant and Reo were fractionally higher and short covering again made itself felt in Yellow Taxi of New York. A rise of 2 points to 125% in American Light and Traction was the feature of the public utilities. Colo- rado Power was taken just under 34 and a better demand came into the market for American Gas and Electric new. United Verde E nah xtengion w he mining group. up 2 ctension and Tono- » strong spots in Peer 01l Corp . Penn Reaver 0 Pennock Oil .. Royal Can 0 & R’ alt Creck Cons Creek Refiu Woodley Pet INDUSTRIAL Am Cot Rrit Am Cands Prod Co wi i Centrifug Iron Pipe Clilds Co new wi Colorado Pow & Lt L Cudab = DL & W Coalll Dol Dle € ¢ wi Dubilier ¢ & Radio Dualill Intl loc.. Durant Mot & \ & Man R R pf Motor Proow vie wi k Cor ptd. 80 Yeilow Taxi (o NY 21 Kerr Llake ...... Metals Prod Co New Dominion Cop. Nevada Hills Min. Nipissing o Cop Ray Here 1 Warre ilver Horn Min Unity Gold Wenden Copper West End Consol Yukon Gold FRENCH FRANC RISE DUE TO SYNDICATE| 'Speculative Movement Directed From New York and London Is Declared Responsible. By the Aseociated Press. PARIS, April 23.—A vast specula- tive movement directed from New York and Leondon is responsible for ntinued rise of the franc, is was clared in the most qualified finan- i circles in Paris today. French 1 interests have been out of change market since the opera- tion by which the dollar was brought down from 27 to 21 francs in three days during the second week of s asserted at the Pank n. it was declared, fluctua- tions have been due cntirely to the momentum of that operation helped out by American and British inter- ests who have been taking advantage of the situation and shorts who are | still uncovered and who are still ’pa)’in)z 10 per cent monthly interest |on francs borrowed to carry their { deals over. WALL STREET BRIEFS. | { | | B the Assoctated Press. | The preliminary statement of the St. Loui: ‘an Francisco system for March | shows @ decrease of $17,788 in net | opcrating income compared with March, 1923. Gross income was $7,- 002526, a drop of $463.763. _Surplus ! charges also decreased $62,633. New bond iccues aggregating $3. | 000.000 were offered today, $17,640.000 | Southern Pacinic any’ 5 equipment trust certificates, series C, heading the list, and priced at 993 | tovield 5.0 per’cent. | Net loss of $44.104 in the first quar- | ter of 1924, compared with profit of $143,892 in the corresponding period last year, is reported by the Anterna- tional Salt Company. Net income of the Hudson Motor Car 'ompany for the quarter ended Febru- ary 29 ‘was $1,301,363, a decrease of | $387,805 from the same period last | year. The receiver’s report for March shows the Hydraulic Steel Company earned net profits of $59,680. Net sales were $566,389. | | For the quarter ended March 21, | Virginia Tron, Coke and Coal Company | reports net income of $5,792, equal to | 11 cents a share on the preferred stock. British and French exchanges mount- ed to new high prices for the year today on heavy buying from European sources, which was described by some local dealers as belated short cover- inc. ¥rench francs touched $6.82, and demand _ sterling was quoted $4.40. Other European rates improved in sympathy. | th; “Adjustment of steel output to de- mand has made further progress this week,” Iron Age says, “with accom- panying evidence of some contraction of activity, though by no means marked, in consuming industries. Largely. the withholding of orders is seen to be due to an expectation of buyers that‘prices will yield further. Yet with all the pains consumers are taking to keep stock of steel at the lowest point, shipments from the mllls appear to be nearly up to the average of 1923 and the volume of construction work and of railroad construction compares favorably with that of March.” The largest “loan crowd” ever seen on the floor of the New York Stock Exchange gathered this morning de- manding stock in substantial volume in order to make deliveries on short sales. At one time it was estimated that thirty-four issues loaned flat, something none of the oldest traders could recall had occurred before. American Woolen loaned flat for the first time in weeks and Coca Cola went to 1-64 premium. per cent | STAR, Suggested Extension in Case of M. & St. L. Railroad. MINNEAPOLIS, Minn, April 23.— Recommendation that the receiv ship of the Minneapolis and St. Louis railroad be continued until January 1, 1927, on the ground that earlier at- tempts to reorganize the road would be unwise because of present condi- WASHINGTON, D. TO CONTINUE RECEIVER. ||~ | TELLER WANTED APRIL 23, 1924. EXPERIENCED Offices for Rent WILKINS BLDG 1512 H St. NW. Three desirable rooms;* southern cxposure; single Northwest Savings Bank tions in the transportation industry were received by Minneapolis bond- holders from the New York committee representing their interests in the re- ceivership. The committee of which J. §. Bache of New York is chairman, was ap- pointed by owners of first and re- funding 4 per cent mortgage bonds of the Minneapol nd St. Louls and lowa Central railroad The committee was appointed short- 1y after W. H. Bremner, president of the road, was named receiver in July, 1923. . Paul and Minneapolis bond- holders said the recommendations probably would be complied with. William S. Phillips or en suite. For particu- lars apply Randall H. Hagner & Co. 1207 Conn. Ave. N.W. Phone Main 9700 .Money to Loan Secured by first d of trust on rea; Prevailing interest and commission. 420 Wash. L. & Trust Joseph I Weller 47, Wl % & Trast 7% First Mortgages $250 and Up Write or Call for “Rooklet” FIRST MORTGAGES | ; FOR SALE . THE TYPE OF SECURITY CONSERVATIVE_IN- VESTORS BUY DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. —_——— A —phase of our mortgage in- vestments most gratifying to us is the ever increasing de- sire on the part of our clients to recommend them to their friends. Our Investments —cannot be too highly recom- mended. Write for Booklet Chas. D. Sager Mortgage Investments 924 14th St. N.W. Main 36 EQUITABLE Co-Operative Building Association Organized 1879 44th YEAR COMPLETED Assets . Surplus Systematic Savings —Each pay day lay aside part of your salary at the Equitable. It is a method of saving that will prove most effective. Subncription for the 86th Issue of Stock Being Recetved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JORN JOY EDRON. President FRANK P. REFSIDE, See’y. WE HAVE MONEY To Loan on Improved Real Estate Wm. H. Saunders Co. Ine. REALTORS 1433 K St. N.W. MAIN 1015-6-7 NOTICE We have money to loan in large denomi- nations on business properties and apart- ment houses at— 5%% & 6% Loan Department BOSS & PHELPS Realtors M. 9300 MI7K St. £ First Mortgage Loans Lewest Rates of Interest and Commission Prempt Actien Thomas J. F’l;hg.& Company, Inc. 79% Yield for 30 Years Pennsylvania Electric Corporation 6% % Gold Debentures, 1954 Price 933 and Interest Company controls Penn Public System, which serves over one- sixth the entire area of Penn- sylvania. Earnings, after prior charges of subsidiary companies, over 57 times annual interest re- quirements. Debentures constitute the only funded debt outstanding and are secured by common stocks deposited, representing control of Penn Public System and by “notes of constituent companies. Sinking Fund estimated to re- tire the entire issue before ma- turity. Descriptive Circular on Request E. H. Rollins & Sons Founded 1876 416 Woodward Bldg., ‘Washington Boston New York _Philadelphia u CMoago Denver San Francieco | | (l 713 & 715 14th St. N.W. SAFETY FIRST Last and All the Time and 7% INTEREST -—on our First Mortgage Notes secured on improved real estate in the District of Columbia. Convenient Amounts $100, $250, $500, $1,000 Particulars Upon Request GEO. W. LINKINS 1719 K Street Established 1856 AMOUNTS Upon First Mortgage On Improved Properties in the District— Current Rates— Prompt Service HANNON & LUCH REALTORS and Mortgage Investments Interests—— demand that your sav- ings be placed where they will earn the maxi- mum consistent with absolute safety. These conditions are ideally fulfilled in our Main 2345-6-7-8-9 TRANSPORTATION BUILDING 17th and H Streets Washington’s Newest Office Building Office rooms, single and en suite. Very desirable stores on first floor. Building has every advantage regard- ing light and air, open on all four sides. Convenient to Government Departments, banks, clubs, etc. Passed by or within one square of every car line and bus connection in Washington. Contains 396 office rooms ; over 90% rented to tenants of the highest type. On the edge of the restricted parking zone, with con- venient parking facilities around Farragut Square, one square north. For further particulars apply room 232 Transportation Building, or Randall H. Hagner & Company 1207 Connecticut Avenue, Washington, D. C. FUNDS PLACED FOR INVESTORS IN SELECTED FIRST MORTGAGES Conservative investors seeking liberal income re- turns plus safety of principal for amounts in multiples of $250 can place their funds profitably and conveniently through our mortgage department in sound first mort- gages on select Washington préperties. The officers of this company, without obligation, will gladly confer with any prospective investor and dis- cuss loans on specific dwellings, apartment or business properties. If so instructed, they will place the investor’s funds in first mortgages on the same agent basis that the com- pany is constantly serving its regular client-investors— individuals, attorneys for estates, banks, corporations, trustees and guardians. H. L. RUST COMPANY Loan Correspondent of the Prudentic! Insurance Company of America 912 15th Street Main 6888 St — Employing Professional Services ‘The rep;xtahle investment banking institution dealing in high-grade securities is the professional service you should employ in investment transactions. Upon the reputation and experience of your investment banker, intrusted with the safe investment of funds, depends your financial well being. Our services, employed for nearly twenty-five years by large and small investors, may be had for the asking. Baker, Watts & Co.. Bankers Counsellors in Investment Edwin D. Flather MANAGER 813 Woodward Bldg. Washington Calvert and Redwood Sts. Baltimore FINANCIAL. Dean, Onativia & Co, Stock Exchange Building New York COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS New York Stock Exchange Chicago Stock Exchange New York Curb Market Association N. Y. Cotton Exchange Chicago Board of Trade . Y. Produce Exchangs Minneapolis Chamber of Commerce WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 JOHN CALLAN O’LAUGHLIN Manager Income-- The natural ambition of every man is to build a continuous, assured in- come which will free him from busi- ness worry and will provide those comforts and pleasures he craves. It is just such a steady, dependable return as this that is afforded by these 6} per cent First Mortgage Investment Notes. Added io the property sccurity ss the unquelificd recommendation of the MAN ompany Main 4190 Constructio INC. SAFETY—YIELD To seek only high )\wld is to speculate. To secure safety coupled with substantial yield is to invest. Our 7% FIRST MORTGAGES Century Without —meet all the conditions of a perfect investment. a Loss B. Main 2100 F. SAUL CO. 1412 Eye St. N.W. 6% and 7% From 1 to 15 Years You have a wide range of maturities from which to choose when you make an investment in our current first mort- gage offerings. Every investment is strongly secured by improved, income-producing real estate. Every investment is protected by the safeguards responsible for our record of no loss to any investor in 51 years. You may buy these First Mortgage In- vestments in any amount, in denomina- tions of $100, , $1,000 and $5,000, outright for cash or under our invest- ment savings plan. Call, write or phone Main 6464 today for full information. °7@-E.H.SM1'1'1—38 COMPANY lease send me descrip. First Mortgage Coupen